If someone unregistered in GST purchases land and after demarking as 80 commercial shops, sales 45 shops without construction as land for shop and 35 shops after built up. Each shop is valued more than 75 lacs. Being commercial shops, is he liable to registered in GST?
Is sale value of unconstructed/ not built up shops also to be considered for valuation & gst liability or only of constructed shops ?
Here completion certificate is not being provided by any authority. Which any other documents can be treated as completion certificate ?
Debate on GST liability for selling 80 shops: Experts question tax on unconstructed sales and completion certificate necessity. A discussion on the Goods and Services Tax (GST) liability for selling commercial shops arose, focusing on whether GST applies to sales of both constructed and unconstructed shops. An individual sold 45 unconstructed shops and 35 constructed shops, each valued over 75 lakhs, without obtaining a completion certificate. Experts debated whether GST applies to unconstructed land sales and the necessity of a completion certificate from authorities or a chartered engineer. Some argued that selling unconstructed land is not liable for GST, while constructed sales may be, depending on the completion certificate's status and payment timing. (AI Summary)
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